4221 Pacific Ave Lacey, WA 98503
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 4221 Pacific Ave
- Year built
- 1930
- Property type
- Commercial real estate
Description
This exceptional commercial property at 4221 Pacific Avenue SE in Lacey, WA, presents a unique investment opportunity. The offering encompasses three distinct buildings situated on a prime corner lot with high visibility and traffic exposure. The main building houses a well-established Lacey Shoe Repair business, complete with a recently remodeled two-bedroom residential unit above, ideal for owner-occupancy. A separate, sizable building in front is currently occupied by a tenant, generating consistent rental income. Adding to the versatility, a detached two-car garage and a charming standalone house with a pleasant yard are also included. The property's diverse components offer multiple income streams and significant potential for future development. The Lacey Shoe Repair business is available for separate purchase at $120,000, having previously generated gross revenue exceeding $300,000 annually before the COVID-19 pandemic. This multifaceted property is priced at $1,399,000 and presents a compelling opportunity for investors seeking a blend of established income and significant upside potential in a thriving Lacey location. The property's size is not specified, but its three buildings and additional structures offer substantial square footage across the site. The lot size is listed as zero acres, suggesting a relatively compact footprint. This high-traffic corner location makes it an ideal investment for a variety of commercial ventures.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lacey
- County
- Thurston
- State
- Washington
- Longitude
- -122.8312
- Latitude
- 47.03839
